The government has sent out a warning over one-sided predictions that housing prices will continue to rise in the second half. 

Finance Minister Hong Nam-ki said Thursday during a meeting reviewing real estate issues that it is extremely worrisome these projections are being made that the housing market will again see instability. 

Hong said inflation-adjusted prices of apartments in Seoul have come close to levels seen just before they underwent corrections amid the 2008 global financial crisis.

The minister said it must be taken into consideration that the U.S. is likely to reduce its quantitative easing program and the government is strengthening measures to slash household debt.